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Detroit Free Press Business Writer

General Motors is watching the escalating tension on the Korean Peninsula and would consider shifting production if the situation deteriorates, GM CEO Dan Akerson said Thursday.

“If there were something to happen in Korea, it’s going to affect our entire industry, not just General Motors,” Akerson said during an hour-long appearance on CNBC’s “Squawk Box” program.

But GM has more at stake than either Ford or Chrysler. It makes 145,000 vehicles in South Korea for sale to local customers and another 1.3 million for export to other markets, including the U.S. For example, the Chevrolet Spark minicar is made in South Korea and shipped to U.S. dealerships.

So GM faces the prospect of a production crisis if North Korean dictator Kim Jong Un acts on his threats to deploy the country’s nuclear arsenal.

Akerson said in the long-term, GM would consider moving production if the ability of operate in South Korea becomes unacceptably risky.

“I think that’s fair,” he said. “You’ve got to start to think about where you have the continuity, the supply and safety of your assets and employees. It’s a concern to everybody.”

Akerson added that it would be hard to make immediate changes to vehicle production in response to the threats.

“We are making contingency plans for the safety of our employees to the extent we can,” Akerson said. “Beyond that it’s difficult to shift production.”

On a separate issue, he said the Bank of Japan’s decision to stimulate the Japanese economy by devaluing the yen against other currencies is “suspicious” and could give the Japanese automakers a pricing advantage, but he said GM won’t use it as an excuse.

Last month Ford CEO Alan Mulally warned that continued weakness of the yen will give Japan’s automakers a pricing advantage in the U.S.

In the first quarter of 2013, GM gained ground on Japanese automakers Toyota, Nissan and Honda in the U.S. GM’s market share rose from 17.5% a year ago to 18% this year, while Toyota’s rose from 14.1% to 14.4%, Nissan’s fell from 9.3% to 8.6% and Honda’s was flat at 8.6%.